Hello everybody! I will introduce you to UBCFX today. UBCFX is an online forex broker, who located in Liffey House, 24 Tara Street, D02 CX89 Dublin 2.

The website of the broker (ubcfx.com) has been receiving 490,000 estimated visitors per month. The visitors are mainly from Saudi Arabia. The visitors from Israel, Malaysia, and United Arab Emirates have been following them.

Let’s take a look at what questions I answered in this UBCFX review: Is UBCFX scam or not? What are the account types offered by the broker? What are the trading conditions such as spreads, minimum deposit and leverage? Is UBCFX regulated?

Regulation of UBCFX

UCFX is an offshore forex broker. The company behind UnitedVertures Ltd., operated in Saint Vincent and The Grenadines (SVG).

I can clearly say UCFX is an unregulated forex broker. This means that the UBCFX provides financial trading services without the supervision of any international authority.

There are some reputable financial regulators such as the UK’s FCA (Financial Conduct Authority), the National Futures Association in the US, the Cyprus Securities and Exchange Commission, better known as CySEC, is the financial regulatory agency of Cyprus, and the Australian Securities and Investments Commission (ASIC).

These watchdogs require some strict rules for brokers to get their licenses. For example, CySEC regulated brokers are required to keep all clients funds in segregated accounts separated from creditors account and to keep a minimum operational capital of at least 730 000 EUR.

In addition, clients are covered by a compensatory scheme to ensure the cost of the client’s loss if the brokers have gone bankrupt.

Trading Account Types and Spreads

According to the information from the website of the broker, there are four account types. These are Mini, Standard, Gold, and VIP account types.

The Mini account’ minimum deposit is $500 and it is higher than the sector average. Minimum trading size is 0.1 lots. Spreads are from 2.5 pips and fixed. The maximum leverage is up to 1:200.

The Standard account type requires $2,000 minimum deposit amount. The minimum trade size is 0.1 lots. There is no information about spreads for about this account.

Minimum deposit for the Gold account is $5,000. There are 24/7 live customer support, personal account manager, daily market review specifically for this account type. The leverage is up to 1:400. The information about spreads is not available.

UBCFX VIP account is only for special invitation traders. So, there is no information about this account type. The only way to learn is the broker’s invitation.

The broker must be transparent in order for potential clients to get information about the trading conditions offered by the broker. However, it does not share with us what the spreads are.

Trading Platforms

UBCFX offers two trading platforms. Sirix and Activ8 are the platforms, both of web-based.

The UBCFX Sirix Web Trader platform offers a set of trading solutions, including social trading. The UBCFX Sirix Platform is user-friendly and easy to operate and monitor, also for new traders. The platform is available online, no download required.

This platform has some good features;

Simplified & user-friendly graphics

Stay up-to-date with instantly updated data

One-click-fast trade execution

Execute, set limits and control your risk within seconds

The UBCFX Sirix platform is available for mobile too. You can virtually take the market with you anywhere you go by using your mobile devices.

Activ8 enables its users to trade based on technical analysis and live trade signals across several asset classes.

Advance technology

Smart, fully automated interface

Centered around ease of use

A functionality which will see increased broker productivity and profitability

I think there are enough payment methods. But, there should be Bitcoin and Paypal.

Conclusion

As a result of this review, the UBCFX’s offer seems to be a few positives, but the negative aspects of this forex broker are more evident. These are due to the lack of financial arrangements, the high spreads that are announced on the broker’s website, as well as the lack of the MT4 platform.

Trading with unregulated brokers involves high risk. You may lose your money to scammers. You should be careful before opening an account with them.

Platform & Tools

Product Portfolio

Pros

Cons

Who I Am?

Hello everybody. I am the author of this personal blog which I compare reliable forex brokers. I am in the trading industry since 2009 and still learning. I have traded in the most popular forex brokers, with the most unknown ones, in any regulation and many different account types so I believe now I have the enough information to compare brokers, regulations and so on J